The price of oil is set for a correction by the end of the year, according to the UAE Energy Minister. Speaking in Abu Dhabi, Suhail Mohammad Faraj Al Mazrouei said that he believes the current prices are forcing everyone to ‘freeze.’ It's reported that oil has lost over 65% of its value since highs of $115 per barrel in June 2014, due to a glut of supply. The minister added: “It does not make any sense for anyone to increase the production at the current prices.”
Dr. Sultan Al Jaber dedicates leadership award to UAE President, frontline workers
Dr. Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology, ADNOC Managing Director and Group CEO, and Executive Chairman of XRG, has received the 2026 Distinguished Global Leadership Award from the Washington D.C.-based Middle East Institute (MEI).
Dubai achieves highest-ever ranking in Global Financial Centres Index
Dubai has achieved its highest ever ranking in the Global Financial Centres Index (GFCI), climbing to seventh place, underscoring the emirate’s rise as one of the world's most influential financial hubs and its importance in the global financial system.
Stocks gain with oil prices easing on optimism from possible ceasefire talks
Global equity markets, including from the U.S., Europe and Asia, rose while oil prices fell on Wednesday, as traders cheered news of ceasefire proposals to de-escalate the ongoing conflict in the Middle East.
Australia moves to double fines for fuel gouging amid shortages
Australia's centre-left government has introduced legislation in the parliament to double penalties for fuel price gouging on Wednesday as global supply disruptions due to the Iran war triggered fuel shortages in some rural regions.
Gulf stocks mixed amid confusion over US-Iran talks
Gulf markets ended mixed on Tuesday, with Qatar extending losses while other bourses steadied as investors parsed conflicting signals on potential US-Iran talks.
